Is Stony Island Park, IL a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Stony Island Park is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Stony Island Park has remained a Seller's Market.

Key Takeaway

Stony Island Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Stony Island Park, IL

How much do homes in Stony Island Park, IL cost?

Median Sold Price

$207,500

$124/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$42,500(+25.8%)

Key Takeaway

Homes in Stony Island Park have sold for 25.8% more than they did a year ago.

Summary: The median home sold price in Stony Island Park was $207,500 in October 2024, up 25.8% from last year, and the median price per square foot was $124.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $160K-
N/A
2 $130K$129K
-0.8%
3 $202K$250K
+23.8%
4 $128K$235K
+83.6%
5+ $285K$257.7K
-9.6%

Summary: Stony Island Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.8%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 83.6%, and 5+ bedroom homes decreased by 9.6%.

Median Sold Price Compared To Nearby Neighborhoods

Stony Island Park
+25.8%
Avalon Park
+23.0%
Far Southeast Side
+10.9%

Housing Supply in Stony Island Park, IL

How many homes are available in Stony Island Park, IL?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2021+5.0%

Summary: The Stony Island Park real estate market had 21 homes for sale in October 2024, a 5.0% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 45
+25.0%
3 1011
+10.0%
4 43
-25.0%
5+ 22
0.0%

Summary: The Stony Island Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
24+100.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Stony Island Park, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Stony Island Park in October 2024, up by 100.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 0% were sold at asking, and 25% were sold over asking.

Days on Market for Stony Island Park, IL

How long does it take to sell a home in Stony Island Park, IL?

Average Sale Time

Oct 2023Oct 2024CHANGE
138 Days36 Days-74.1%

Summary: Homes in Stony Island Park had an average of 36 days on market in Oct 2024, down by 74.1% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Stony Island Park are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 4 homes were sold in Stony Island Park; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

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